P.E.I. gas price back up over $1 a litre

After falling into the basement at the height of the pandemic, the price of gas on P.E.I. is back up over a dollar a litre.

The base price for gasoline rose three cents overnight in the regular weekly price review from the Island Regulatory and Appeals Commission. That put the minimum cost of a litre of self-serve, regular gasoline at $1.01.

Back in early January the minimum price of a litre of self-serve, regular gas at the pump was $1.15. By the end of March, a combination of lack of demand and a crude oil price war between Russia and Saudi Arabia had dropped the price to $0.71. It bounced around between $0.70 and $0.75 through the month of April before it began to rise again.

Diesel and furnace oil prices also increased.

Furnace oil is up two cents to a maximum of $0.70. The base price of diesel is up 1.4 cents, for a minimum pump price of $1.00.

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